AC Energy to invest P1.86 billion solar farm in the Phillipines

AC Energy Philippines, Inc. is planning to invest P1.86 billion in SolarAce1 Energy Corporation’s 120 MW solar farm in Laguna, the Philippines. AC Energy has signed an agreement with SolarAce1 to subscribe to the latter’s 6 million Class A common shares and 180 million Class A redeemable preferred shares (RPS). The total 186 million shares to be acquired represent 25.83 per cent of the total outstanding stocks of SolarAce1. The Common A shares and the Class A RPS are both priced at P10 each for a total subscription price of P1.86 billion.

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